Vanguard cuts costs on no-load funds

The Vanguard Group Inc. announced that it has added services for shareholders that invest in its $100,000 no-load, low cost mutual funds.
Some of the services include discounted financial planning and lower online brokerage commissions.
Customers with at least $100,000 in assets can now pay $250 for a financial plan with a certified financial planner.
Previously, the cost of a financial plan was $1,000 for shareholders with less than $250,000 invested at Vanguard and was complimentary to those with $250,000 or more in investments.
Vanguard customers with between $100,000 and $500,000 in assets can now purchase equities online for $20 or 2 cents per share, whichever is greater.
Online non-Vanguard trades will cost $20 for customers with at least $100,000 in assets.
Meanwhile, customers with over $1 million in assets will receive 12 commission-free equity and fund trades, $8 thereafter on equity trades and $20 thereafter on fund trades.
Vanguard’s services are now based on three tiers of investment.
The lowest level is called “Voyager” and includes clients with assets between $100,000 and $500,000.
The “Voyager Select” and “Flagship” accounts are for customers with assets between $500,000 and $1 million; and $1 million, respectively.
Based in Malvern, Pa., Vanguard manages more than $1.2 trillion in mutual fund assets.